What happened
American Express has launched the Graphite Business Cash Unlimited Card, now open for applications. The card carries a $295 annual fee ($95 for authorized users, with a no-fee Employee Business Expense Card available). It offers unlimited 2% cash back on all eligible purchases and 5% cash back on flights and prepaid hotels booked through Amex Travel Online, with no foreign transaction fees. A welcome offer provides $1,500 cash back after spending $50,000 within the first six months. The card also includes up to $2,400 in American Express One AP statement credits annually after $250,000 in eligible purchases. It is a hybrid product with no preset spending limit